CX Daily: Why China’s Injured Gig Workers Often Lose Out In Court
In Depth: Why China’s injured gig workers often lose out in court
Liu Jiwei, one of millions of drivers working for the ride-hailing company Didi Chuxing Technology Co. Ltd., died suddenly Feb. 16, 2019, in his work-registered car. Despite two years of effort, his family has struggled to prove Liu had established a formal labor relationship with Didi or to receive compensation for his death.
Liu became a Didi driver in June 2017. His account on the Didi platform showed that he had completed 3,518 trips and earned more than 200,000 yuan ($31,024) from the job.
Didi claimed Liu had never signed a labor contract, and that his death could not therefore be considered work-related. “Didi’s attitude has always been tough. For a long time, we couldn’t find anyone to deal with the case,” said Xian Xiaoyan, the Liu family’s lawyer.
Xinhua: Key insights into the state of China’s economy
As 2021 marks the beginning of China's 14th Five-Year Plan period (2021-25), as well as the start of its journey to fully build itself into a modern socialist country, the nation's economic performance has come under the spotlight.
How is China's economy doing so far? Are there any new situations emerging, or existing issues left unresolved? With the pandemic and economic trend becoming more complicated, where is the world's second-largest economy heading?
FINANCE & ECONOMY
Roundup: China’s policymakers offer soothing words to revive moribund housing market
Chinese government officials and regulators are working to restore confidence in the property market after recent turmoil triggered by the debt crisis engulfing developer China Evergrande Group fueled concerns that the real-estate industry’s troubles will spread to the rest of the economy and drag down growth.
Vice Premier Liu He and People’s Bank of China (PBOC) Governor Yi Gang are among the senior officials that have spoken publicly over the past week to reassure home buyers and investors that Evergrande’s problems are controllable and that there’s no risk of contagion into the broader property sector and the banking system.
Sales of new homes have plunged over the past few weeks and government data show new housing starts have slumped as cash-strapped developers have struggled to fund their operations, stymied by the PBOC’s three red lines policy to control their debt and banks’ increasing reluctance to extend credit to the industry.
China reminds local governments it’s illegal to discriminate against foreign companies
Foreign-invested companies registered in China must receive equal treatment in government procurement with domestic firms and must not be discriminated against, the Ministry of Finance said, reiterating terms laid out in the Foreign Investment Law.
In an official notice (link in Chinese) published Monday, agencies under the central government’s budget and provincial- and municipal-level finance departments were told to guarantee the equal participation of domestic and foreign companies in government procurement procedures as long as production of the goods takes place in China and the projects are not related to national security or state secrets. They were also told not to set unfair requirements aimed at limiting foreign companies’ participation and urged to handle complaints of discrimination fairly.
Central bank charts orderly growth track for financial industry
China’s central bank issued dozens of new standards aimed at pushing the country’s fast-evolving financial industry onto an orderly growth track, including the first set of criteria for the burgeoning green finance sector.
The 47 types of standards published by the People’s Bank of China (PBOC) cover a wide range of financial activities including product and service offerings, data management, security, clearing and settlement, fintech, supervision and green finance. The standards — technical specifications and requirements for financial industry players to follow — include 19 national requirements and 28 to be applied industrywide.
China plans on coal price mechanism to keep cost reasonable amid energy crisis
China’s top economic planner said it would consider limiting the fluctuation of coal prices, as the commodity’s soaring value continues to fuel a power crunch that is endangering energy security and economic growth.
The National Development and Reform Commission (NDRC) is “studying the establishment of a coal market price formation mechanism to guide the long-term stability of coal prices in a reasonable range,” it said in a statement Tuesday (link in Chinese).
Quick hits /
Shenzhen bourse chief named deputy chair of CSRC
China and U.S. hold ‘candid’ talks on tariffs, climate
Opinion: Six key messages in China’s new decarbonization roadmap
BUSINESS & TECH
|A Carrefour store in Shanghai on Saturday. Photo: VCG|
Walmart denies pressuring its Chinese suppliers into forced exclusivity
Walmart Inc.’s members-only chain in China denied claims of anti-competitive conduct, saying an internal investigation found it had not barred its suppliers from working with other similar stores, a practice rife in Chinese retail that has come under increasing regulatory ire since last year.
“We immediately launched a self-inspection, but so far, we haven’t discovered any such issues,” Sam’s Club said (link in Chinese) on its Weibo account Monday, after Carrefour China Holding Ltd. and Alibaba’s Hema supermarket chain both accused the U.S. retail giant of “forced exclusivity.”
Tutoring institution numbers drop in Chinese cities piloting reform
The number of tutoring institutions doing business fell in several pilot cities, including Beijing and Shanghai, according to a string of recent reports released by China’s Ministry of Education, illustrating the impact that a national crackdown is having on the after-school education industry.
In Beijing, tutoring institutions of all kinds have suffered a 60% drop (link in Chinese) in their numbers since July, when the central government launched its “double reduction” policy, which aims to take some of the stress off overburdened elementary and middle school students by reducing the amount of homework and after-school tutoring they have to do.
Flying car /
Xpeng unveils plan for $150,000 flying car
China’s Tesla challenger Xpeng Inc. unveiled plans for its sixth-generation electric vertical take-off and landing (eVTOL) vehicle, capable of running on roads and flying at low altitude — but while the design may turn heads, analysts say its din could create turbulence.
Xpeng said the unnamed flying car, which was introduced at a company event Sunday, will begin mass production by 2024 and will retail for less than 1 million yuan ($156,700). It will be fitted with two propellers installed on foldable arms that can extend from either side of the car’s body when it is in flight mode, giving it a wingspan of about 12 meters. The propellers will retract inside the car when it is in road mode.
Chinese-funded entities in Sudan urged to take precautions after coup
The Chinese Embassy in Sudan urged all Chinese-funded entities in the country to immediately make emergency safety provisions, gather staff members and temporarily suspend work following the military coup, according to state media.
The embassy in Khartoum said it has prepared necessary emergency supplies and is operating normally. It also reminded Chinese citizens in the country to take safety precautions, stay indoors and keep in touch with the embassy.
Quick hits /
China’s steel industry on track to churn out less this year than in 2020
Tesla sets up first overseas R&D center in Shanghai
Tech Insider /
Tesla’s China earnings swell, Xpeng’s new flying car
China marks Sanitation Worker’s Day
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